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22. On January 1, ABC signed a 5-year finance lease requiring annual interest of $12,760 beginning immediately. Appropriately discounted at 6%, the PV of lease

22. On January 1, ABC signed a 5-year finance lease requiring annual interest of $12,760 beginning immediately. Appropriately discounted at 6%, the PV of lease payments is $119,738. Interest expense accrued on December 31 of the first year is?

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